Bitcoin price soars to highest level since April bubble

The price of bitcoin is currently at its highest level since 10th of April, when the value experienced a massive surge amidst the financial crisis in Cyprus. In fact, there have only been two days in the history of the digital currency that the price of bitcoin has been higher than the $171 it is now, at the time of writing. But what is causing the current spike? Well, it seems there are a few possibilities. The demise of Silk Road The closure of black marketplace Silk Road by the FBI on 2nd October was seen as a real make-or-break moment for bitcoin – if it could weather this storm, it would prove itself as a durable and trustable currency. And weather the storm it did. The price of bitcoin fell from $125.49 on 1st October to $99.81 on the 2nd , but the very next day, the price was back up to $116.82 and it hasn’t really stopped rising since. The price of bitcoin took a t...